View Full Version : Recipe for disaster

03-22-2002, 11:20 AM
In the last month the short open interest in CPN

(Calpine) has climbed from approx 70M to 89M

shares.The total amount of shares is only 305M.

All the shares shorted in the last month would have been sold under $12.00 The price of CPN is presently about $14.60

Any thoughts stock traders?

03-22-2002, 12:52 PM
Hi Dr. Bill,


On the monthly chart this topped out in 3/01.

Both the weekly and daily charts offer no encouragement to me. In addition volume is off as well, and it looks overbought.

The upturn on the daily is normal off a new low. Can't see it higher than the 16.50 area before it turns down to confirm the low.

A weekly close above 17.50 would be needed for me to reverse.

I have no interest here.


03-22-2002, 12:55 PM

03-22-2002, 01:36 PM
Maybe they are spread or hedged against CPN fixed-income obligations somehow.